DPI

K-shaped dive
2026-07-22 14:55:13

Crypto Market's K-Shaped Divergence: VC Concentrates, Token Buybacks Lose Power

Crypto is undergoing a K-shaped restructure: mid-tier collapses, token buybacks fail to support prices, VC fundraising concentrates in top firms like a16z, and Chinese VCs retreat after BTCFi fallout. Market signals are missing, with fast-cycle sectors leaving little room for slow growth.

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Crypto Market's K-Shaped Divergence: VC Concentrates, Token Buybacks Lose Power
AI
2026-07-21 13:43:09

IT Juzi Maps the Angel-Round Winners in China’s AI and Embodied Intelligence Unicorn Boom

A new report from IT Juzi says China added 67 unicorns in the first half of 2026, with AI and embodied intelligence companies accounting for more than half of the total. The research then examined all 107 unicorns currently on its list in China’s AI and robotics/embodied intelligence sectors, tracing every investor that appeared in seed, angel and angel-plus rounds. As of July 2026, nearly 300 institutions had backed at least one unicorn at the angel stage, according to the report. By total count, Sequoia China ranked first with 11 angel-round hits, followed by GL Ventures and ZhenFund with nine each. But when the sample is narrowed to new embodied intelligence bets made after 2022, MiraclePlus, Linear-like early-stage specialist Lanchi Ventures, and SEE Fund stand out for concentrated exposure. The report also breaks down how those firms operated. MiraclePlus used a high-volume accelerator-style model with standardized checks and small initial tickets; Lanchi built founder-sourcing channels through its BuMing camp and AGI Pioneer Club; SEE Fund leaned on a tight engineering network around Tsinghua-linked founders while building positions across the embodied intelligence supply chain. IT Juzi argues that U.S. dollar funds still moved earlier overall, while many RMB funds only began entering the sector at scale after 2025.

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IT Juzi Maps the Angel-Round Winners in China’s AI and Embodied Intelligence Unicorn Boom
a16z
2026-07-11 00:39:13

Top Crypto Funds See AUM Plunge Over 40%; a16z, Multicoin Hit Hard

Leading crypto venture funds suffered massive AUM declines amid the 2025 market downturn and capital distributions. a16z's four funds dropped nearly 40% to $9.5B, Multicoin's AUM halved to ~$2.7B, while Pantera returned capital after portfolio IPOs.

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Top Crypto Funds See AUM Plunge Over 40%; a16z, Multicoin Hit Hard